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Peter Thiel, the US tech billionaire with a passion for New Zealand, has been secretly funding former wrestling star Hulk Hogan's lawsuit against online news site Gawker, US media are reporting.

A Florida jury awarded Hogan, otherwise known as Terry Bollea, US$140 million in March over a sex tape Gawker published in 2012.

Forbes Magazine has reported that Thiel, who was an early investor in Facebook as well as New Zealand's highflying tech stock Xero, was Hogan's secret backer, citing anonymous sources close to the case.

Hulk Hogan was awarded US$140 million in March over a sex tape Gawker published in 2012. Photo / AP